Description

Open offer by Mr. Amit Lalit Jain and Mr. Hanissh Kanakraj Jaain to acquire up to 26% equity shares of Shentracon Chemicals Limited at ₹0.50 per share under SEBI SAST Regulations.

Summary

Mr. Amit Lalit Jain and Mr. Hanissh Kanakraj Jaain (Acquirers) have made an open offer to acquire up to 11,53,917 fully paid-up equity shares representing 26% of the equity and voting share capital of Shentracon Chemicals Limited from public shareholders. The offer price is ₹0.50 per equity share of face value ₹10 each, payable in cash. This offer is made pursuant to Regulations 3(1) and 4 of SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011, due to substantial acquisition accompanied with change in control and management.

Key Points

  • Offer to acquire up to 11,53,917 equity shares (26% of equity capital)
  • Offer price: ₹0.50 per equity share (face value ₹10)
  • Payment mode: Cash
  • Target Company: Shentracon Chemicals Limited (CIN: L24299WB1993PLC059449)
  • Acquirer 1: Mr. Amit Lalit Jain (Contact: +91 9773479605)
  • Acquirer 2: Mr. Hanissh Kanakraj Jaain (Contact: +91 9867688833)
  • No differential pricing in this offer
  • No statutory approvals required as on date of Letter of Offer
  • Offer subject to statutory approvals if they become necessary later

Regulatory Changes

This is a mandatory open offer triggered under SEBI (SAST) Regulations for substantial acquisition of shares and voting capital accompanied with change in control and management of the Target Company.

Compliance Requirements

  • Public shareholders of Shentracon Chemicals Limited may tender their shares during the tendering period
  • Shareholders who have recently sold shares should hand over the Letter of Offer to the stock exchange member through whom sale was effected
  • If upward revision in offer price and/or offer size occurs up to 1 working day prior to tendering period commencement, public announcement will be made in same newspapers as original Detailed Public Statement
  • Acquirers must obtain statutory approvals if they become applicable before closure of tendering period

Important Dates

  • Tendering Period Commencement: Friday, January 10, 2026
  • Last date for upward revision of offer price/size: Friday, January 09, 2026 (1 working day prior to tendering period)

Impact Assessment

This takeover offer represents a significant change in control and management of Shentracon Chemicals Limited. The acquisition of 26% equity stake by the acquirers will result in substantial ownership changes. Public shareholders have the opportunity to exit at ₹0.50 per share, which is significantly below the face value of ₹10 per share, indicating potential distress or undervaluation. The offer involves change in management, which could impact the company’s operational strategy and future direction. Shareholders should carefully evaluate the offer price against current market price and company fundamentals before tendering their shares.

Impact Justification

Major takeover offer involving 26% equity acquisition with change in control and management of listed company